Interested in developing a digital transformation strategy for your business? You aren’t alone. New data from Smart Insights shows 66% of businesses have either:
- Started a digital transformation plan
- Scheduled a plan ready to implement within 12 months
- Introduced and executed their plan already.
While some holdouts still exist, the majority of businesses are looking to digital transformation to secure their future. Why? Because digital transformation has proven to have a range of transformative benefits for your business. From better customer experience to increased productivity, there are plenty of reasons to develop your digital transformation strategy.
For some, the idea of digital transformation is a little confusing. The basic principle makes sense — to solve problems using technology. But what does that look like in practice? To help you understand the benefits of digital transformation — and why you should implement a strategy — we’ve listed some common digital transformation examples.
Digital Transformation Example: Claims Management Software
In the claims management business, proper onboarding of claims cases is critical. Claims management companies need extensive claims information — about everything from relevant dates to evidence to support claims. All this information must be acquired, which means submission of documents and the filing of forms. To produce the necessary data, documents must be personalised, archived correctly and filled out completely. Under traditional methods of filing in paper documents curated by hand, it’s not difficult to see how this can be a laborious and ineffective process.
Digital transformation changes that.
Logican has developed claims management software. The system allows claims management companies to completely automate the process. Customers enter all information digitally through a unique login, this includes their unique forms of identification and any proof required for the claim, such as medical evidence or contract details. All information entered under their login automatically archives within their account for easy access. Template documents are also produced based on the data they’ve given as part of their account information, which means personalised forms generate without the need to create them by hand. Claims forms have mandatory input boxes, and new questions/input fields are generated automatically based on responses to previous entries, so no data is missed — and all of this happens without any human input past the initial setup phase. It’s easier for customers to fill out claims, and it’s faster for claims management companies to process them.
In terms of digital transformation examples, there can be no better demonstration of just how effective updating your business can be.
Digital Transformation Example: Cloud-Accounting Tools
Traditional accounting methods have businesses recording their accounts on paper — old-fashioned ledgers, material receipts and printed invoices. Businesses with more digital-friendly practices might use spreadsheets and send invoices via email, but this is still behind the times. In this digital transformation example, we discover just how far behind the times these practices are.
Cloud-accounting tools are web-based systems that operate entirely online. They are completely digital, accessed via a mobile app or website using a subscription login. You can input data manually if you have external numbers, or you can automate systems by integrating all inbound and outbound business payments with the software tool.
Cloud-accounting tools will do everything from sending out invoices for payment to tracking tax deductions on the payroll. Everything is automated based on the figures you provide the system, which themselves can also be automated. You can easily create financial reports without having to crunch the numbers yourself, and you always have a complete overview of your business’s financial health.
These tools make complex accounting easy — a far cry from jotting numbers down on a piece of paper and storing expense receipts in a filing cabinet.
Digital Transformation Example: Virtual Assistants
The position of a receptionist is vital within a business. The role enables messages to be taken, calls to be diverted to the right places, meetings to be booked easily, and information to be quickly shared. But there are pitfalls to human receptionists. The first is the expense. Hiring a receptionist will cost an average of £25,000 per year — a major cost. Some businesses may not be able even to afford that, so management handles calls themselves. This diverts work from other tasks, or means calls are missed. The other issue is availability. A receptionist can only work certain hours, so out-of-hours calls go unanswered.
These are not problems faced by virtual assistants.
Virtual assistants are pieces of automated technology that provide call-answering solutions. You can set up virtual assistants to provide customers with pre-recorded information, establish call forwarding using button prompts, enable voice-command appointment scheduling and various other functions a receptionist offers. The price of the software is far lower than that of a receptionist’s salary (around 200% cheaper) and because it’s computer software, it can operate out-of-hours when a person cannot.
Digital Transformation Example: Drone Stock Checking
In large warehouses, stock checks are important but also time-consuming. You need to be aware of inventory, but that comes at a very real cost. You need to have people checking every item, often using a barcode scanner, to reconcile warehouse data with actual stocks. This kind of activity also introduces a myriad of health and safety protocols that must be followed to ensure workers are not put at risk while moving around the warehouse and climbing up racks to scan stocks. Again, this is time-consuming and costly.
Yet digital transformation turns these painful and expensive tasks into simple and automated processes.
Drone technology exists that can automatically check all warehouse stock using sensors and scanners. The drone is programmed to fly around the warehouse taking inventory and submitting data to control. The process is fast, efficient and saves countless hours lost if carried out by a person. Since checks are carried out by robots, required health and safety measures are also greatly reduced, with policy needed only for those who may be in close contact with the drone.
Are you in need of digital transformation tools but can’t find the perfect solution? Get in touch with Logican today to discuss our bespoke software development services!
